Punjab

Ludhiana

CC/23/199

Munish Gupta - Complainant(s)

Versus

Life Insurance Corp.of India - Opp.Party(s)

A.B.Sharma Adv.

09 Dec 2023

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION, LUDHIANA.

                                                Complaint No: 199 dated 19.05.2023                                                         Date of decision:09.12.2023

 

1. Munish Gupta aged about 44 years son of Balwinder Kumar,
2. Balwinder Kumar aged about 67 years son of Tirth Ram,
3. Shimla Rani aged about 66 years wife of Balwinder Kumar,
4. Priyanka Gupta aged about 42 years wife of Munish Gupta,

A residents of Flat No.F/404, Gold Link Apartments, Hambran Road Ludhiana.                                                            ..…Complainant

                                                Versus

1. Life Insurance Corporation of India, Divisional Office, Jeevan Parkash Building, Phase-I,  Urban Estate, Dugri, Ludhiana through its Divisional Manager.
2. Life Insurance Corporation of India, B.R.S. Nagar Branch, Ludhiana through its Branch Manager.                                                                                                                                           …..Opposite Parties

Complaint under section 35 of the Consumer Protection Act.

QUORUM:

SH. SANJEEV BATRA, PRESIDENT

SH.JASWINDER SINGH, MEMBER

MS.MONIKA BHAGAT, MEMBER

 

COUNSEL FOR THE PARTIES:

For complainants            :         Sh. A.B. Sharma, Advocate

For OPs                          :         Sh. Rajeev Abhi, Advocate

 

ORDER

PER SANJEEV BATRA, PRESIDENT

1.                           The complainant has invoked the jurisdiction of this Commission by filing the present complaint and raised a consumer dispute with regard to non-removing of lien marked on the policies of the complainants by the OPs and thus they have claimed to make entry in the records of the IC regarding removing of lien marked by Kotak Mahindra Bank on the insurance policies on the basis of NOC dated 31.03.2023 and to pay the compensation as well as litigation expenses.

2.                Notice was issued to the opposite parties and on 09.08.2023 Sh. Rajeev Abhi, Advocate appeared on behaved of OPs and filed written statement along with affidavit on behalf of OPs on 22.09.2023. The parties stated that there are chances of compromise between them and the case was adjourned for disclosing result of compromise.

                   However, on 08.12.2023, Sh. A.B. Sharma, Advocate counsel for the complainant suffered statement that the complainant is ready to hand over the necessary documents to the OPs as advised by the officials of the OPs for removing of lien marked by Kotak Mahindra Bank on the insurance policies on the basis of NOC dated 31.03.2023 along with requisite fee i.e. fee of Rs.80/- plus GST for each and every insurance policy, submission of notice of reassignment, form No.3857 duly executed in duplicate, submission of original policy bond and power of attorney or certified copy of resolution passed by the board of directors showing that the officials executing the instrument of reassignment was competent to execute it. The counsel for the complainant further requested that after submitting of the necessary documents, lien may kindly be removed in the records of OPs within 30 days.

                   Sh. Rajeev Abhi, Advocate for the OPs stated that the OPs have already stated in their written statement that reassignment of all the policies will be registered immediately on receipt of required documents and necessary fee.

3.                In view of the aforesaid settlement arrived between the parties, the present complaint stands disposed of with the direction to the complainants will hand over the necessary documents to the OPs as advised by the officials of the OPs for removing of lien marked by Kotak Mahindra Bank on the insurance policies on the basis of NOC dated 31.03.2023 along with requisite fee i.e. fee of Rs.80/- plus GST for each and every insurance policy, submission of notice of reassignment, form No.3857 duly executed in duplicate, submission of original policy bond and power of attorney or certified copy of resolution passed by the board of directors showing that the officials executing the instrument of reassignment was competent to execute it. Further the OPs are directed to remove the lien on the insurance policies in their records within 30 days from the date of receipt of necessary documents from the complainants. Copy of the order be supplied to the parties free of costs.

4.                File be indexed and consigned to record room. 

 

(Monika Bhagat)           (Jaswinder Singh)         (Sanjeev Batra)               Member                       Member                         President   

National Lok Adalat    National Lok Adalat      Consumer Commission                                                                                     cum Chairman, National                                                                          Lok   Adalat       

Announced in Open Commission                                            Dated:09.12.2023.

Gobind Ram.